Vontobel Holding Ltd. Cuts Stake in Futu Holdings Limited (NASDAQ:FUTU)

Vontobel Holding Ltd. lessened its holdings in Futu Holdings Limited (NASDAQ:FUTU) by 43.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,242 shares of the company’s stock after selling 4,832 shares during the quarter. Vontobel Holding Ltd.’s holdings in Futu were worth $597,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Creative Planning lifted its stake in shares of Futu by 6.3% in the 3rd quarter. Creative Planning now owns 14,091 shares of the company’s stock valued at $1,348,000 after acquiring an additional 838 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in Futu in the third quarter valued at approximately $1,511,000. CWM LLC lifted its position in Futu by 67.7% in the third quarter. CWM LLC now owns 743 shares of the company’s stock valued at $71,000 after purchasing an additional 300 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Futu by 181.5% during the third quarter. GAMMA Investing LLC now owns 594 shares of the company’s stock valued at $57,000 after purchasing an additional 383 shares during the period. Finally, SG Americas Securities LLC grew its holdings in shares of Futu by 5,847.2% in the third quarter. SG Americas Securities LLC now owns 111,153 shares of the company’s stock worth $10,632,000 after purchasing an additional 109,284 shares during the last quarter.

Analysts Set New Price Targets

Separately, Bank of America increased their price target on shares of Futu from $80.20 to $90.00 and gave the company a “buy” rating in a research report on Friday, September 27th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $72.97.

Futu Stock Down 1.0 %

NASDAQ:FUTU opened at $92.33 on Tuesday. The firm’s fifty day simple moving average is $77.24 and its 200 day simple moving average is $70.41. The stock has a market cap of $12.72 billion, a P/E ratio of 24.43, a price-to-earnings-growth ratio of 1.65 and a beta of 0.74. Futu Holdings Limited has a twelve month low of $43.61 and a twelve month high of $130.50.

Futu (NASDAQ:FUTU) last announced its quarterly earnings results on Tuesday, August 20th. The company reported $1.11 earnings per share (EPS) for the quarter. Futu had a net margin of 39.27% and a return on equity of 16.77%. The company had revenue of $400.73 million for the quarter. On average, analysts expect that Futu Holdings Limited will post 4.28 EPS for the current fiscal year.

Futu Profile

Futu Holdings Limited provides digitalized securities brokerage and wealth management product distribution service in Hong Kong and internationally. It offers online financial services, including securities and derivative trades brokerage, margin financing and fund distribution services through its Futubull and Moomoo digital platforms.